Flex (NASDAQ:FLEX) had its price objective raised by Citigroup from $13.00 to $15.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup‘s price objective would indicate a potential upside of 30.55% from the stock’s current price.
Several other brokerages also recently commented on FLEX. Cfra dropped their price target on Flex from $15.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. BidaskClub upgraded Flex from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $9.00 price target on shares of Flex in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.75.
Shares of FLEX stock traded down $0.16 during trading on Friday, reaching $11.49. The company had a trading volume of 7,714,194 shares, compared to its average volume of 2,990,709. The firm’s 50 day simple moving average is $10.42 and its two-hundred day simple moving average is $10.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.26 and a quick ratio of 0.74. Flex has a one year low of $5.36 and a one year high of $14.00. The company has a market capitalization of $5.72 billion, a PE ratio of 60.47, a PEG ratio of 1.21 and a beta of 1.78.
In other Flex news, CAO David P. Bennett sold 4,954 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.68, for a total value of $52,908.72. Following the transaction, the chief accounting officer now owns 173,176 shares of the company’s stock, valued at $1,849,519.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Humphries sold 24,908 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.66, for a total value of $265,519.28. Following the completion of the transaction, the insider now directly owns 593,982 shares in the company, valued at approximately $6,331,848.12. The disclosure for this sale can be found here. In the last three months, insiders sold 209,392 shares of company stock worth $2,197,043. Insiders own 0.56% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its stake in shares of Flex by 80.7% during the first quarter. Global Retirement Partners LLC now owns 4,287 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,915 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Flex during the second quarter valued at $41,000. Synovus Financial Corp acquired a new position in shares of Flex during the first quarter valued at $44,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Flex during the second quarter valued at $53,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Flex during the first quarter valued at $84,000. 95.66% of the stock is currently owned by institutional investors.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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